New solutions aim to unlock and transform healthcare operations by uncovering hidden value, financial opportunity, and measurable efficiency.
SHERIDAN, WY, USA, March 10, 2024 — PracticePath, a leader in providing innovative solutions for healthcare and medical practices is helping healthcare organizations unlock hidden value, streamline operations, and achieve superior business outcomes by leveraging the power of data, automation, and advanced analytics to differentiate their business.
PracticePath’s Process Intelligence services delivers the hard ROI finance leaders expect through significant cost savings and efficiency gains, while also providing the secondary benefit of soft ROI by enhancing operational alignment, better employee experience, and patient care quality.
What is Process Intelligence?
Process Intelligence combines business process analysis, process improvement, and monitoring, all based on real operational data. It provides transparency into how business processes run and utilizes advanced technologies to unlock value and increase performance.
Key Features of Process Intelligence:
- Automatic and Continuous Data Acquisition: Collects process data at scale across all systems within your enterprise.
- Eliminate Variability: Provides real-time data insights and automation, ensuring consistent and standardized processes across all teams.
- Systematic Data Analysis: Analyzes individual steps within business processes and operational workflows.
- Process Modeling: Designs ideal processes considering enterprise architecture, organizational structure, and process landscape, covering operations, clinical, financial, insurance payors, and sales.
- End-to-End Actionability: Leverages workflow capabilities for quick process improvement and better-informed decisions.
- “Shift Left” Cash Optimization: Automate financial processes to accelerate up-front cash collections and minimize accounts receivable (AR) to improve financial stability and cash to better operate and scale the business.
Seamless Integration and Automation
Process Intelligence combines decades of process re-engineering know-how with the data and integration between systems of record (e.g. Practice Management, EHR, CRM, and Financial Systems) allowing for automated and direct actions such as unblocking claims, stopping cash leakage, updating master data, or notifying employees of necessary steps to follow to achieve desired business outcomes, all from within a tailored Process Intelligence toolset.
Discover Your Process Reality
Business leaders gain clear understanding of their process reality and identify issues affecting overall performance, such as long cycle times, bottlenecks, and compliance violations while rapidly identifying levers for improvement so they can take action to enhance efficiency.
Turn Insights into Business Value
- Visualize and Analyze Processes: Cut the guesswork with data-driven analysis to uncover new possibilities.
- Identify Bottlenecks: Zero in on inefficiencies and trouble spots to understand their impact.
- Streamline Processing: Remove avoidable and redundant activities to optimize workflow.
- Drive Immediate Cash Impact: Prioritize opportunities based on data-driven insights and automate manual steps for accounts receivable and payable.
- Enhance System Integration: Enable better collaboration between existing systems and facilitate smoother adoption of new technologies.
- Achieve Operational Alignment: Establish a common language for business processes, fostering new levels of collaboration and achievement.
The Modern Equivalent of the Rosetta Stone
Process Intelligence acts as the connective tissue in healthcare and medical practices, integrating data, knowledge, and automation to rebuild the foundation for efficient operations. It captures and unifies process data, enhanced by machine learning and deep process knowledge, creating a single intelligence layer that supports improvements, work orchestration, automation, and transformation across your organization.
Benefits of Process Intelligence:
- Visibility into Real Process Execution: Gain transparency into how processes actually run.
- Reduced Time to Insights: Quickly identify root causes and areas for improvement.
- Improved Process Harmonization: Ensure processes are aligned and compliant across the organization.
- Enhanced Collaboration: Foster better collaboration across departments.
- Closed Loop from Insight to Action: Enable faster improvements with actionable insights.
Achieving New Levels of Business Excellence and Outcomes
Process Intelligence enables unique analysis and actionable insights by integrating conformance with real-world operational, clinical, and financial performance data. This holistic approach allows organizations to create and drive best practices across processes, departments, and systems, simplifying and accelerating the identification and capture of value opportunities.
PracticePath enhances existing people, processes, and technology stack by infusing process intelligence into every workflow, decision, platform, tool, and application, helping deliver new levels of business excellence.
Discover the untapped potential in healthcare processes with PracticePath. Turn business processes into business progress and elevate your business to new heights of efficiency and success. Contact PracticePath today to learn more about how our Process Intelligence services can transform healthcare operations.
About PracticePath:
PracticePath accelerates medical practices by offering scalable solutions that drive growth without increasing headcount, ensuring the immediate achievement of business outcomes. Standing at the forefront of healthcare innovation, they provide mid to enterprise level medical practices with turnkey, finance-friendly digital solutions. Their mission is to accelerate the growth and efficiency of medical practices through solutions that deliver on the promise of operational and clinical excellence. With PracticePath, healthcare providers are equipped to navigate the complexities of the modern healthcare landscape, ensuring sustainable growth and improved patient care.